BUSH ADMINISTRATION ANNOUNCES $407,000 TO STIMULATE ECONOMIC DEVELOPMENT AND HOUSING IN GRAND JUNCTION
HUD grants targeted to lower income persons and families in need

DENVER - The City of Grand Junction will receive nearly $407,000 in funding from the Department of Housing and Urban Development to stimulate its economy and produce affordable housing. HUD Secretary Alphonso Jackson said the funding represents another investment in improving the conditions for lower income families living in Grand Junction.

"This Administration is committed to promoting economic development and job growth, increasing the supply of affordable housing, and helping our most vulnerable neighbors," said Jackson. "These funds will serve as a catalyst
for low-income families trying to cross the threshold into homeownership and reinforces our commitment to
rebuilding entire communities."

The funding announced today is provided through HUD's Community Development Block Grant (CDBG) Program.
For the past 30 years, CDBG has awarded over $108 billion to state and local governments to target their own community development priorities. While, the rehabilitation of affordable housing has traditionally been the largest single use of the grants, CDBG is also an important catalyst for job growth and business opportunities. CDBG funds
are distributed by formula around the country based on a community's population, poverty levels, growth rate, housing overcrowding and the age of its housing stock.

HUD is the nation's housing agency committed to increasing homeownership, particularly among minorities; creating affordable housing opportunities for low-income Americans; and supporting the homeless, elderly, people with disabilities and people living with AIDS. The Department also promotes economic and community development as
well as enforces the nation's fair housing laws. More information about HUD and its programs is available on the Internet and espanol.hud.gov.

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